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Investors buy 558 million in mortgages from FDIC - 17 hours ago - WASHINGTON AP - A group of private investors including former executives of Countrywide Financial Corp. has purchased 558 million in home mortgages from the government in a deal involving assets of the failed First National Bank of 0133 : WTOP Radio

Subprime lender Cattles cuts jobs and costs - 17 hours ago - Subprime lender Cattles PLC said Wednesday it plans to cut 20 percent of its work force and reduce costs to preserve capital as uncertainty over its funding situation continues. Cattles, which specializes in lending to people who cannot get 0133 : Columbia Missourian

PennyMac, Led by Ex-Countrywide Head, Sees Promise in Bad 0133 - 8 hours ago - Jan. 8 Bloomberg Stanford Kurland, the former Countrywide Financial Corp. president, says his new company s purchase of 558 million in home loans issued by a failed Nevada bank will be a springboard for further growth. Private 0133 : Bloomberg

Delinquent loans jump to record in 2008 - 4 hours ago - BOSTON Late payments on consumer loans in last year's third quarter hit the highest level since record-keeping began in 1980, the American Bankers Association said yesterday. Delinquencies rose to a seasonally adjusted 2.9 percent from 0133 : Columbus Dispatch

U.S. Banks Offer Mortgage Rates Below 5 as Fed Buys 0133 - 31 minutes ago - Jan. 8 Bloomberg The largest U.S. banks are starting to offer fixed home loans below 5 percent after the government began buying mortgage securities to bolster the housing market. JPMorgan Chase Co. is advertising 30-year mortgages 0133 : Bloomberg

Paulson Floats Idea Of Mortgage 'Utilities' - - In his final speech scheduled as Treasury secretary, Henry M. Paulson Jr. yesterday proposed replacing mortgage-finance companies Fannie Mae and Freddie Mac with highly regulated utilities that would play a more limited role in making money 0133 : Washington Post

Pasco receives 400K help from feds - 3 hours ago - A new federal program designed to help cities and counties struggling with home foreclosures will provide Pasco with about 400,000. The Neighborhood Stabilization Program was passed as part of the Housing and Economic Recovery Act of 2008 0133 : Tri-City Herald

Refinancing suddenly booms - 1 hour ago - Historically low interest rates recently have sparked a mortgage refinance boom in Hawai'i that is helping homeowners and lenders during difficult economic times. The national average interest on a 30-year fixed-rate mortgage last week 0133 : Honolulu Advertiser